Epoch Investment Partners Inc. Buys New Stake in Nextpower Inc. $NXT

Epoch Investment Partners Inc. bought a new stake in shares of Nextpower Inc. (NASDAQ:NXT) during the 1st quarter, Holdings Channel reports. The firm bought 145,024 shares of the company’s stock, valued at approximately $17,483,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Nextpower by 0.6% in the third quarter. State Street Corp now owns 5,391,696 shares of the company’s stock worth $398,932,000 after purchasing an additional 31,689 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Nextpower by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock valued at $350,385,000 after purchasing an additional 236,593 shares in the last quarter. Invesco Ltd. raised its stake in shares of Nextpower by 5.1% during the fourth quarter. Invesco Ltd. now owns 2,864,660 shares of the company’s stock valued at $249,541,000 after purchasing an additional 139,211 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Nextpower by 4.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,429,410 shares of the company’s stock worth $211,627,000 after purchasing an additional 111,782 shares during the period. Finally, Amundi lifted its holdings in Nextpower by 156.1% in the third quarter. Amundi now owns 2,111,628 shares of the company’s stock worth $161,600,000 after purchasing an additional 1,287,071 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Buying and Selling

In other news, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total value of $3,120,740.52. Following the transaction, the chief operating officer owned 221,533 shares of the company’s stock, valued at $28,205,581.56. The trade was a 9.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the completion of the sale, the chief executive officer owned 931,419 shares in the company, valued at $125,480,767.68. The trade was a 2.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 168,574 shares of company stock worth $22,559,770. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on NXT shares. Mizuho raised their target price on shares of Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Wolfe Research reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Nextpower in a research note on Friday, May 29th. Roth Capital reiterated a “buy” rating and issued a $155.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price objective on shares of Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, KeyCorp raised their price objective on shares of Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Nextpower presently has an average rating of “Moderate Buy” and a consensus price target of $150.62.

Nextpower Stock Down 4.3%

Shares of NXT stock opened at $100.03 on Friday. The stock has a 50-day simple moving average of $120.70 and a 200 day simple moving average of $116.08. The stock has a market capitalization of $15.03 billion, a P/E ratio of 26.12, a P/E/G ratio of 2.00 and a beta of 1.86. Nextpower Inc. has a fifty-two week low of $52.61 and a fifty-two week high of $163.13.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The firm had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, sell-side analysts anticipate that Nextpower Inc. will post 3.73 earnings per share for the current year.

Nextpower Profile

Nextpower, formerly known as Nextracker, is traded on NASDAQ under the symbol NXT and is a leading provider of advanced solar tracking solutions for utility-scale and distributed energy projects. The company specializes in the design, engineering and manufacturing of single-axis tracker systems that optimize the capture of solar energy by following the sun’s trajectory throughout the day. Nextpower’s core hardware offerings aim to enhance energy yield, reduce balance-of-system costs and simplify installation and maintenance for downstream solar developers and operators.

In addition to its tracker hardware, Nextpower provides a suite of digital software and analytics tools to maximize asset performance.